Talen Secures 1 $2B For Two Power Plants Acquisition

Talen Energy has just secured $1.2 billion worth of financing for their acquisition of two gas-fired power plants.

The Term Loan B financing supports their purchase of both the Moxie Freedom Energy Center (1,045 MW) in Pennsylvania from Caithness Energy and the Guernsey Power Station (1,836 MW) in Ohio from BlackRock.

These acquisitions are considered separate deals. The total net acquisition price is $3.5 billion.

When finalized, these acquisitions will further expand Talen’s energy portfolio in PJM, a region seeing skyrocketing energy demand and struggling supplies thanks to data centers, manufacturing, and electrification. PJM is home to the world’s largest data center market in Virginia.

In total, Talen holds 10.3 GW, including 2.2 GW worth of nuclear and fossil energy.